I've seen firsthand how PE ruins startups. I joined a seed co and our founder went with a PE firm rather than a VC for our next round. The VCs were upfront about job cuts but the PE investors did not say anything until they took over.

Needless to say, the founder got a good paycheck but we were left holding the bag.

It was a bloodbath and they completely ruined the culture, product, morale, and any semblance of growth. It was personally the most stressful period of my working life...

From then on, the moment that I see private equity mentioned anywhere, I know its time to run.